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Guide to French Poste Office - La Poste

7. La Banque Postale

La Banque Postale is the retail banking arm of La Poste who operate alongside the normal post-office counters, or as part of the same counter service.

The banking services offered by La Banque Postale are enjoyed by many millions of French citizens because they are generally less expensive than the main retail banks, they have an extensive branch network, and they are open on a Saturday morning, although this advantage is fast disappearing as some banks start the practice.

Until 2009 they had a monopoly of the popular tax free savings account called Livret A, which was the main reason for their popularity.

This monopoly was removed in January 2009, since when all banks are able to offer the product.

La Banque Postale also offer mortgage services, with rates that are often below those of the main banks.

Nevertheless, their procedures in relation to non-French citizens still leaves room for improvement, and only those who can offer a secure and clear source of income will be accepted for a mortgage.

The bank offers unsecured loans and a range of insurance products for health cover, and car and house cover.

The bank also offers foreign exchange, but their rates do not have a reputation for being the best, so you need to check them out.

To open an account you can start the process on-line but best to visit your local branch with your passport, utility bills and proof of income, eg tax notice.

Non-residents can also hold an account, provided they already hold a bank account elsewhere in the EEA, where you must also live.

In 2019 La Banque Postal created a low-cost on-line bank specifically designed for young people in mind for access from a mobile phone. You can find details of the bank at Ma French Bank.

You can find the bank charges for 2023 at Les tarifs bancaires de La Banque Postale.

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